'The young actors today, for me, are better than ever," Duvall, who is nominated for an Oscar for his role in the film 'The Judge,' said. 'We learn from them, we learn from each other.'

Mario Anzuoni/Reuters

Robert Duvall, best supporting actor nominee for his role in 'The Judge,' arrives at the 87th Academy Awards nominees luncheon.

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February 3, 2015

By Mary MillikenReuters

As the nominees for this year's Oscars gathered at a luncheon in Beverly Hills on Monday, industry veterans took the opportunity to reminisce on their journey, some for the first time, to the Academy Awards platform.

"This nomination would not have come when I was in my twenties, because I was figuring out how to do this," said J.K. Simmons, best supporting actor favorite for "Whiplash."

His sentiments were echoed by fellow nominees including Michael Keaton, Steve Carell, Laura Dern, and Reese Witherspoon, all of whom have been acting for more than two decades.

"At 46, it's really beautiful, I can appreciate how meaningful it is," said "Boyhood" best supporting actress contender Arquette, a first-time Oscar nominee.

Simmons and Arquette joined more than 200 nominees across all branches of the film industry at the annual power lunch hosted by the Academy of Motion Pictures Arts and Sciences, organizers of the glitzy Oscars ceremony on Feb. 22, hosted by Neil Patrick Harris.